Michigan National announced this morning it will issue a MasterCard branded prepaid card through the Coinstar and DataWave networks. Since last summer, Coinstar and Canada-based DataWave have worked together to integrate DataWave’s wireless processing technology into the Coinstar network of machines to sell prepaid phone cards. Coinstar owns and operates the only nationwide network of supermarket-based machines that offer coin counting and other electronic services. Today’s announcement will move Coinstar beyond offering just coin counting machines. Eventually this new technology will give Coinstar customers the option of turning their coins into a convenient and secure prepaid MasterCard.Details
Trintech announced a security alliance with RSA incorporating PayWare and RSA BSAFE SSL-C encryption software.
The combined software solution enhances security for financial institutions operating in real and virtual card-based transactions. Trintech will incorporate this enhanced security technology into its PayWare(R) eAcquirer(TM) payment gateway infrastructure solution for financial institutions, payment processors, e-commerce service providers, and card organizations, allowing Trintech’s customers to securely authorize, capture, route and settle all card-based transactions originating from both the physical and virtual worlds of commerce. PayWare eAcquirer provides the technology infrastructure necessary to take advantage of global-based business-to-consumer (B2C) and business-to-business (B2B) opportunities securely.
! “As the only provider of end-to-end ePayment infrastructure solutions Trintech has deployed PayWare eAcquirer to leading financial institutions worldwide. We believe that our security alliance with RSA will provide a strategic advantage for our customers,” said Trevor Healy, Vice President of Strategic Alliances for Trintech. “Trintech is a leader in secure e-payments and we will continue working with RSA as we both pursue an aggressive global strategy for secure e-payments.”
“Security plays a critical role in the B2C and B2B marketplaces, and Trintech, as a leader in end-to-end secure e-payments infrastructure, is enhancing its product suite with this alliance and deploying the industry’s most recognized and widely used security software,” said Scott Schnell, senior vice president of marketing at RSA Security. “We are excited about the growth in electronic commerce and look forward to the market continuing to expand as companies look for and adopt reliable security and e-payment solutions.”
Trintech is a leading provider of secure electronic payment infrastructure solutions for real-world, Internet and wireless transactions. The company, founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech’s secure product range is deployed in over 35 countries worldwide and covers the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. Trintech’s range of scaleable, open systems architecture solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile commerce. Trintech can be contacted at 2755 Campus Drive, San Mateo, CA 94003 (Tel: 650/227-7000). Trintech can be reached on the Web at [www.trintech.com].
About RSA Security Inc
RSA Security Inc., The Most Trusted Name in e-Security(TM), helps organizations build secure, trusted foundations for e-business through its RSA SecurID(R) two-factor authentication, RSA BSAFE(R) encryption and RSA Keon(R) digital certificate management systems. With more than a half billion RSA BSAFE-enabled applications in use worldwide, more than seven million RSA SecurID users and almost 20 years of industry experience, RSA Security has the proven leadership and innovative technology to address the changing security needs of e-business and bring trust to the new, online economy. RSA Security can be reached at [www.rsasecurity.com].
Gelco, the largest and most experienced provider of e-business expense management and reimbursement programs, announced the release of Travel Manager 8.0.
This browser-based application was designed expressly for companies requiring some travelers to comply with Federal Travel Regulations, while others abide strictly with internal corporate policy.
Travel Manager 8.0 was developed for commercial use based upon the highly successful Gelco Travel Manager(R) (GTM) product line, used by more than 120 federal agencies and sites. GTM is by far the leading application, and has become the recognized standard, for end-to-end government business travel management. Corporations using Travel Manager 8.0 can cut processing time by over 75 percent, and lower processing costs by more than 65 percent. These savings are similar to those documented by GTM users.
“Business travel in conjunction with a government contract presents unique challenges for corporations,” said Jon Klem, president and CEO of Gelco Expense Management Group. “Travel on a government contract is subject to per diems and a set of quite sophisticated travel regulations. Contractors run the risk of not being reimbursed and incurring additional administrative costs should they not comply with the regulations. This, in turn impacts the overall profitability of the government contract.
“In addition to saving time and administrative costs, Travel Manager 8.0 ensures full compliance, in advance, for every business trip and improves a company’s accounts receivable balance. The system’s inherent e-business flexibility enables companies to deploy it enterprise-wide, even where government compliance is not a factor.”
Users prepare and electronically approve their documents via the Internet. With a click, they can identify the most economical airfares and rates for lodging and rental cars. Version 8.0 integrates with all popular electronic booking tools, and if a travel agency is part of the process, Travel Manager will forward all the information necessary for the agency to generate tickets and reservations. The system performs all audits and integrates with every major financial system. Gelco also offers a Payment Module to reimburse travelers within 72 hours of filing their expense reports, including split payments for corporate charge cards. In addition, customers can opt for a fully IRS-compliant receipt management service, which does away with warehousing paper receipts.
To experience a live demonstration, call 1-800-444-6588 or visit Gelco’s web site at [http://www.gelco.com] for more information.
Minneapolis based Gelco Information Network is a wholly owned subsidiary of HG Holdings, a multinational interest specializing in products and services for mobile employees. Gelco has been providing travel expense management software and services for more than 35 years. As a whole, the company processed over $11 billion in reimbursements in 2000. The Expense Management Group serves over 1.9 million users in over 1,200 corporations and federal agencies, including Ericsson, Boeing, The Toro Company, American Home Products, EMC, Gartner Group, Reebok International, Ltd., and the United States Government (including Department of Defense, State Department and NASA).
Leveraging an e-business infrastructure through technology from Sun, Cisco, Oracle, EMC and Microsoft, Gelco is the only company that provides its customers with complete expense and trade fund management solutions. Additionally, through its partnerships and private-label relationships, Gelco provides this e-business technology and infrastructure to application service providers and other providers of travel management services. Visit the Gelco web site at [http://www.gelco.com] or call 1-800-444-6588.
Move over ‘SpeedPass’ — VeriFone reported yesterday it has equipped its first convenience store chain with the new VeriFone smart card key fob. The ‘VeriPASS’ system has been deployed at fourteen Pumper’s Premium Stores in Greenville, SC. Since mid-December, over 4,000 Pumper’s customers are using the smart card key fob for payment as well as participation in Pumper’s club and loyalty programs. ‘VeriPASS’ software, which uses VeriFone’s ‘Ruby’ POS system as a controller, supports payment via the ‘VeriPASS’ key fob by associating the data of any of the stores currently accepted magnetic strip cards to the customer’s key fob. Up to two cards can be stored. Payment is made by presenting the key fob in front of an outdoor ‘VeriPASS’ reader located next to the gasoline fueling point, or by presenting the key fob to an indoor ‘VeriPASS’ terminal located inside the store. ‘VeriPASS’ also supports three CRM functions. These include a prepaid club program in which points are put onto the ‘VeriPASS’ key fob to redeem for items at a later time; an electronic punch card program that rewards frequent purchases or visits; and a loyalty program that rewards points per dollars spent. Pumper’s markets ‘VeriPASS’ under the name ‘Pumper’s Pass’.Details
Datacard Group and Logica announced that they have signed a formal agreement to jointly deliver, market and maintain Datacard’s pma multi-application smart card management system.
The smart card management system, pma (platform management architecture), enables smart card issuers to handle the card’s entire lifecycle, from preparation and issuance to tracking and maintenance of multiple applications. The pma system automates the process of loading, deleting and changing applications, without needing to recall or replace the cards. Furthermore, the pma system enables the cardholder to update and modify applications in real time over the Internet and other consumer touchpoints, whether they concern credit/debit, loyalty scheme details, medical records or identity information.
! Under the agreement, Logica will act as a reseller of the technology to its clients around the world. The combination of Logica’s project management, delivery and integration skills with the unique functionality of the pma system provides a complete solution to organizations wanting to issue multi-application smart cards. Logica offers the technical expertise needed to integrate the pma system with existing systems, and can enable access to different card-acceptance channels such as the Internet, mobile phones and multimedia kiosks.
The partnership is based on a long-standing relationship between Logica and Datacard. The companies initially worked together eight years ago to design and implement the security infrastructure for the MULTOS operating system. The resulting application was the world’s first non-military project to achieve an ITSEC level E6 accreditation.
The global market for chip cards is growing rapidly, driven primarily by a number of programs instigated by the main card schemes to replace existing magnetic stripe cards with secure smart cards built on the EMV (Europay, MasterCard, Visa) standard. The key business issue in initiating smart card adoption programs is the increasing level of card fraud. Furthermore, the commercial successes of financial institution smart card programs are expected to stimulate competition to release new chip-based cards.
According to Martin Kearsley, senior vice president and managing director of the Datacard Solutions Division, “Companies are beginning to realize the potential of smart cards and how they can be exploited. Using the pma system, issuers can offer consumers a unique mix of applications on their cards or can lease space on them to host third party applications, giving rise to all kinds of new revenue streams. Our partnership with Logica will add value to our existing propositions, and will give us the ability to jointly offer innovative technology and integration expertise to our customers.”
Tim Brew, Logica’s e-payments director, said: “We have noted an increasing number of opportunities for smart card management systems in our dealings with customers over the last year, and have evaluated the various market offerings. We consider Datacard’s solutions to be best of breed, therefore it was a logical step to formalize our relationship with Datacard and add the pma system to our card solution portfolio. Multi-application smart cards are a growth area, and by forming this partnership we will ensure our place at the forefront of the coming card revolution.”
Datacard Group is a world leader in innovative plastic card personalization and identity management solutions. The company provides its customers with integrated systems for a variety of financial, identification and healthcare applications. A diverse solutions portfolio features a broad range of card-related products and services, including the world’s best-selling card personalization and printing systems. Datacard Group also offers card life cycle management software, smart card personalization systems and applications, custom solution development and products designed to enhance card issuing operations. Datacard Corporation, doing business as Datacard Group, is privately held and based in Minnetonka, Minn. Datacard Group serves customers in more than 120 countries.
More information on Datacard can be found at [www.datacard.com]
Logica is a leading global solutions company providing IT consultancy, systems integration, products, services and support. Logica’s clients operate across diverse markets including financial services, telecoms, energy and utilities, industry, distribution and transport and the public sector. Founded in 1969, Logica has over 10,000 staff in 27 countries worldwide and is listed on the London Stock Exchange where it is part of the FTSE100 index of the largest UK listed companies.
Upgrade International Corporation announced it has delivered notice to The Pathways Group, Inc. terminating the merger agreement between the two companies.
Commenting on the termination, Daniel Bland, President of Upgrade, said, “After a careful review of the past performance and the future prospects of Pathways, our Board of Directors made the strategic determination to terminate our merger agreement with Pathways.”
Upgrade International Corp., through its ownership interest in UltraCard Inc., Efornet Corp. and cQue Corporation is engaged in the development and commercialization of a patented ultra high capacity portable data storage technology. UltraCard’s patented method for using existing hard disk storage technology provides both highly durable media in a credit card format and an inexpensive read/write device that together will become the next generation in personal portable data storage for a broad range of existing and new markets. Management believes that the UltraCard technology will potentially provide numerous industrial users with a combination of high levels of security and a vastly greater amount of personal transportable data storage at the lowest cost in the industry. In addition the acquisition and development of existing SmartCard solution providers represents a strategic market strategy designed to accelerate the integration of the vastly superior technology inherent in the UltraCard into existing and newly developing markets.
On Behalf of the Board of Directors,
Daniel Bland PresidentDetails
Euronet Worldwide reported yesterday fourth quarter revenue of $13.9 million, an increase of 29% over Q4 1999. The ATM network produced a positive EBITDA of $1.5 million for the full year 2000 and a positive EBITDA of $1.3 million for the fourth quarter. As of Dec. 31, Euronet owned and/or operated a total of 2,634 ATMs, compared with 2,283 ATMs at the year-end 1999. Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, France, the U.K., Greece and the U.S.Details
MN-based Fargo Electronics announced this morning it has been selected to supply an additional 1,253 card personalization systems for the U.S. Department of Defense ‘Common Access Identification Card Project’. Last year and in January, Fargo supplied a total of 299 systems for the beta test of the DoD project. When the current order is fulfilled, Fargo will have manufactured a total of 1,552 systems for the project. Under the deal Fargo will also provide proprietary supplies, such as printer ribbons and overlaminate materials, to produce the new cards. The Fargo systems will be incorporated into the DoD’s multi-purpose identification card project by Telos Corp. of Ashburn, Va., a systems integrator specializing in large government contracts. The deal is worth between $5 million and $8 million for Fargo.Details
Despite the trend of reining in credit card rewards program, a new program has emerged that gives cardholders maximum redemption options, extra points for interest charges, and MasterCard’s top card product. Citibank USA and Travelocity.com have launched the ‘Travelocity.com World MasterCard’. The new card enables cardholders to earn ‘Travelocity Rewards’, points redeemable for any travel product available on Travelocity with no advanced purchase rules, for more than 400 airlines, more than 50,000 hotels and more than 50 car rental companies. Cardholders earn one point for every dollar spent and three additional points for every dollar accumulated in finance charges. Cardholders also receive 4,000 points with their first purchase or a balance transfer. For every 8,000 points earned, a $100 reward certificate is issued. Citibank is charging a prime +8.4% APR and no annual fee.Details
Official Payments Corporation announced the company has launched an Internet credit card tax payment service for the State of Kansas to collect individual income tax payments and retailer’s sales tax. Taxpayers in Kansas will be able to make these payments with their credit cards on the Internet by visiting [www.officialpayments.com]. The service is authorized by a contract with the state of Kansas. Official Payments provides similar services to the Internal Revenue Service, 17 state governments and over 700 counties and municipalities across the United States.
The new payment service for tax year 2000 is now live and accepting payments. In 2001, Kansas taxpayers can use the American Express Card, Discover Card, and MasterCard to make their tax year 2000 balance due, tax year 2000 extension, and tax year 2001 estimated and retailer’s sales tax payments by visiting [www.officialpayments.com] on the Internet. Official Payments will charge taxpayers a convenience fee of 2.5% of their tax payment for the service. For example, a taxpayer who makes a $500 tax payment would be charged a total of $512.50; $500 for the tax payment, and a 2.5% fee, or $12.50, to cover the cost of the service. As a bonus, taxpayers using credit cards with bonus rewards programs can, depending on their card’s program, earn rewards, points, and cash-back or airline frequent flyer miles for paying their taxes.
“For tax year 2000, anyone with an Internet connection will be able to conveniently make his or her tax payments, 24 hours a day, from either home or business,” said Stephen S. Richards, Kansas Secretary of Revenue. “The Internet payment service will be available to taxpayers who file either paper or electronic tax returns. The service is part of our sustained effort to provide the highest level of service to our citizens, while engaging in safe and sound financial practices,” Richards added.
Last year, more than 600,000 taxpayers in Kansas made balance-due income tax payments with an average obligation of $890 to the state treasury. Nearly 460,000 quarterly estimated payments were made, representing $219 million. The Kansas Department of Revenue collects nearly $5.2 billion for the state.
In addition to the service for the state of Kansas Taxpayers can now make their Federal Form 1040 Balance Due Payments, Form 4868 Extension of Time to File, and Form 1040ES Estimated Payments (beginning March 1) by credit card, on the Internet [www.officialpayments.com] or by calling 1-800-2PAYTAX . Official Payments charges a flat 2.5% fee (minimum payment of $1.00), which the lowest price available from the two companies that are listed in IRS instructions as providing credit card tax payment services to taxpayers
About Official Payments Corporation
Official Payments Corporation (Nasdaq: OPAY) is the leading provider of electronic payment options to government entities. The company’s principal business is enabling consumers to pay their government taxes, fees, fines, and utility bills by credit card, via Internet and telephone. The company is unequaled in market penetration and national footprint. Official Payments is the incumbent in contracts with the Internal Revenue Service, 17 state governments, and well over 700 county and municipal governments in 41 states across the United States. In 2000, Official Payments collected and processed over $925 million in federal, state, and local government payments.
Official Payments was founded in the San Francisco Bay area in 1996. Thomas R. Evans, the former President & CEO of the Internet company GeoCities, became Chairman & CEO of Official Payments in the summer of 1999. Mr. Evans brought Official Payments public in November of 1999, raising $80 million in its IPO on the NASDAQ national market. The company has experienced rapid and sustained growth over the past six reported quarters in revenue, new client acquisition, and addition of incremental services to existing clients. The company’s success can be attributed to the combination of an enormous market opportunity with a highly skilled and experienced management and staff, aggressive sales and marketing, and a core competency in developing and implementing leading-edge technical systems.
Competition in the UK market is heating up again with a shift away from the APR battle to reward cards. Halifax and ipoints have introduced the first Internet credit card in the UK market that enables cardholders to earn points towards free rewards. The new program aims squarely at the ‘NatWest/Airmiles’ and ‘Barclaycard’ credit cards. Under the program, cardholders earn one percent of all card purchases charged online or offline, and bonus points with purchases charged from more than 50 ipoints partners. Customers who apply online will also receive 100 bonus ipoints upon activation. ipoints.co.uk is the UK’s largest Internet reward program and has over 30 different reward categories covering over 2 million items for online shoppers to choose from. The new ‘Halifax/ipoints VISA’ offers a five month 3.9% intro APR followed by a 17.9% rate for purchases. The ‘NatWest/Airmiles’ credit card charges a 7.9% intro rate with a 19.4% go-to APR. ‘Barclaycard’ charges a 5.9% APR for balance transfers followed by an 18.9% go-to rate.Details